Courts / Wicklow / Report
Film producers deny claims they diverted up to €50m from company
Summary
In November 2018, Berlin‑based W2 Filmproduktion Vertriebs GmbH filed a derivative action against Irish film producers Morgan O'Sullivan and James Flynn, alleging that the two diverted between €40 million and €50 million from Octagon Films Ltd, a company in which they are shareholders, to themselves or to corporate entities they control. W2 claims breach of duty, fraud and conspiracy, and seeks damages and a declaration that the defendants must account for all profits made through Octagon and the producers' involvement in numerous TV and film productions. O'Sullivan and Flynn deny the allegations, asserting they did not divert any fees or income and that Octagon was a separate entity devoted to film development. They argue that the company benefited from their association with projects outside Octagon's business and will provide forensic accountancy evidence to refute W2's claims.
Who, what, where, when and why
What: Report matter: Film producers deny claims they diverted up to €50m from company. Procedural stage: hearing_or_decision
When:
- 2018-11-14 Publication
Case subjects
Applicant
Applicant
Applicant
Places mentioned
Topics
Fraud Stage Hearing Or Decision
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